Advanced Macroeconomics 1 (5 cr)

Research Master's students PhD students
University of Helsinki - Economics
Oskari Vähämaa
Period 1
Contact teaching
Economicum building

In case of conflicting information consider the Sisu/Courses/Moodle pages the primary source of information.

This course introduces students to macroeconomics and dynamic economic analysis at the graduate level, focusing on the workhorse models of economic growth. It starts with the Solow growth model, moving on to cover the deterministic version of the neoclassical growth model, both in discrete and continuous times, and solves it using an infinite horizon Lagrangian/Hamiltonian. The course introduces dynamic programming and value function iteration methods and compares them with the above-mentioned methods in the same model environment. The interaction of different generations is analyzed using the basic overlapping generations model. Finally, a short introduction to endogenous technological change is given.

  • Completion method: contact teaching
    • streaming will be only available to the FDPE students at their own universities, for more infromation please contact Jenni Rytkonen, jenni.rytkonen [at]
  • Schedule: can be found in Course Page and Sisu
  • Study materials: can be found in Moodle
    • A link and a Moodle course key will be sent by email before the course starts and/or they will be provided on the Courses page: you can view the information on this site without logging in or registering, but some of the content added by teachers to course pages may be available to course participants only, for example Moodle course enrolment key.
    • Log in with your UH username to be able to use all the features of the course workspace
  • Self study material to be studied before the course starts (link to be added here later)

Please register for the course in the UH Sisu with your UH username. Further instructions (link to be added here later).

Aalto University Students
  • Code: ECON-L3100
  • Target groups: PhD / rMSc
  • Credit points: 5
  • Credit transfer: apply for substitution in Sisu
Hanken Students
  • Code: 26049

  • Target groups: PhD / rMSc / MSc

  • Credit points: 5

  • Credit transfer: apply for substitution in Sisu

University of Helsinki Students
  • Code: COM-R312

  • Target groups: PhD / rMSc

  • Credit points: 5

FDPE Students Students
  • Target groups: PhD

  • Credit points: please check your curriculum

  • Credit transfer: please apply for credit transfer according to your home university's procedures

After the course, the student should:

  • Understand and be able to reproduce the deterministic version of the Ramsey-Cass-Koopman macroeconomic model, in both discrete and continuous time (infinite horizon Lagrangian and Hamiltonian techniques) 
  • Be able to solve the models with dynamic programming and value function iteration methods and understand the advantages of the model over the Lagrangian/Hamiltonian structures
  • Understand how the baseline overlapping generation model can be used to analyze the interactions between different generations